Book Image

AI-Powered Commerce

By : Andy Pandharikar, Frederik Bussler
Book Image

AI-Powered Commerce

By: Andy Pandharikar, Frederik Bussler

Overview of this book

Commerce.AI is a suite of artificial intelligence (AI) tools, trained on over a trillion data points, to help businesses build next-gen products and services. If you want to be the best business on the block, using AI is a must. Developers and analysts working with AI will be able to put their knowledge to work with this practical guide. You'll begin by learning the core themes of new product and service innovation, including how to identify market opportunities, come up with ideas, and predict trends. With plenty of use cases as reference, you'll learn how to apply AI for innovation, both programmatically and with Commerce.AI. You'll also find out how to analyze product and service data with tools such as GPT-J, Python pandas, Prophet, and TextBlob. As you progress, you'll explore the evolution of commerce in AI, including how top businesses today are using AI. You'll learn how Commerce.AI merges machine learning, product expertise, and big data to help businesses make more accurate decisions. Finally, you'll use the Commerce.AI suite for product ideation and analyzing market trends. By the end of this artificial intelligence book, you'll be able to strategize new product opportunities by using AI, and also have an understanding of how to use Commerce.AI for product ideation, trend analysis, and predictions.
Table of Contents (17 chapters)
Section 1:Benefits of AI-Powered Commerce
Section 2:How Top Brands Use Artificial Intelligence
Section 3:How to Use Commerce.AI for Product Ideation, Trend Analysis, and Predictions

Analyzing product data for restaurants

The restaurant industry is a highly fragmented market with an enormous variety of products and services available to consumers. As a result, it can be difficult for restaurateurs to understand the data they need to drive meaningful innovation in their businesses.

This section introduces several different ways that data can be used as a tool for innovation within the restaurant industry, including predicting food item success, predicting competitor performance, new profile discovery, and more.

Predicting how food items are likely to perform

One big way to use data for restaurant innovation is to predict how food items will perform in-market. By analyzing the performance of food items in the restaurant industry at large, restaurateurs can identify which food items are likely to be most popular with consumers. This information can then be used to inform business decisions about menu items, pricing, and marketing campaigns.